LL Trade on Mar 11, 2015 15:08 from foldelinio_BOWS: Tradervue User Stock Trades.

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foldelinio_BOWS

 

26.19M float/100% institutionals

playbook: They created a new website:

http://www.lumberliquidators.com/sustainability/health-and-safety/
Quote: "These attacks are driven by a small group of short-selling investors who are working together for the sole purpose of making money by lowering our stock price" Usually, thats the kiss of death for a stock. Short % of float also got lower, so I'm looking for downside continuation intraday. Buy stops above 32$

Stop: 34$
R: 2.5

I stalked the stock the entire day. Buy stops were triggered and $LL started to squeeze hard. 34$ was resistance with stops above, but it refused to tick them and flushed for the first time that day. It slowly creeped up there but could not get above 34$ anymore. Started to base above 33.50$. Stock dropped below 33.60, sucked in the first shorts and remounted the level for a small stop hunt to 33.70$ were some size traded (volume increase on the green candle)

entry: Some dude probably got caught on the short side. He posted a 1600 share bid at .50s increased price first to .55s then to .60s and noone would hit him. He lost his nerves, took the offer and bids dropped to .55s right away, signaling weaknes in the book. I joined the offer and got filled at .61s

1st scale: 33.20 was support and bids were holding, so I took some off at 1:1
1st add: the .20s flipped and could not be remounted. I added and increased position size.
2nd scale: size was coming in slowly so I got scared and took some of again...flushed right after.
close: $LL flushed hard and came back immediately on volume. I bailed.

Mistake: The target was 32.43 because stops of the 1-2-3 traders as well as the buyers of the break above 33.50 were located there. They were advertised and a trigger was really obvious 15mins before the close. I should not have closed the trade, but doubled up again for a flush into the stops. At least, I could have left some shares. Press your winners, dude!!


Execution detail:

Date/time Symbol Side Price Position
2015-03-11 15:08:38 LL sell $33.610 short
2015-03-11 15:11:41 LL buy $33.210 short
2015-03-11 15:24:51 LL sell $33.210 short
2015-03-11 15:28:14 LL buy $32.910 short
2015-03-11 15:43:14 LL buy $32.750 0


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